President Donald J. Trump’s Economic Policies are Delivering for American Workers

This week, many workers are seeing new jobs, bonuses, and higher wages as the President’s tax cuts and America First policies are reinvigorating the United States economy.

USA TODAY: Starbucks Boosts Worker Pay, Gives Bonuses After Tax Cut

“Starbucks is dishing out pay increases and stock bonuses to employees, becoming the latest major employer to boost compensation after Congress approved a tax cut that will benefit businesses. The coffee shop chain said it would spend $120 million on wage hikes that will vary in magnitude throughout the country….The Seattle-based company will also give stock grants to everyone employed at the company’s stores, plants and support centers as of Jan. 1. Hourly retail workers will get at least $500 in shares while store managers will get $2,000. Altogether, Starbucks said it would spend more than $250 million on the increased wages and benefits. The company credited ‘recent changes in the U.S. tax law,’ saying they ‘accelerated’ the decision. Starbucks will also offer additional parental leave for six paid weeks to all non-birth parents. And it will create 8,000 new retail jobs.”

“Disney announced Tuesday it will pay over 125,000 employees a one-time cash bonus of $1,000, as well as make a new $50 million investment into education program for employees. ‘We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program,’ CEO Bob Iger said in a statement. Disney says both initiatives are due to recent tax reform. Some of the biggest companies in the United States have been giving out bonuses to employees, often citing the recently-passed tax bill as the motive. Boeing, AT&T, Wells Fargo, Comcast, Bank of America and Walmart are just a few of those distributing new tax benefits to workers.”

FINANCIAL TIMES: Verizon To Give Most Employees Stock In Anticipation Of Tax Savings

“Verizon will give most of its employees 50 shares of restricted stock as the US telecoms group said it expects savings from tax reform to boost operating cash flow by $3.5bn to $4bn this year. The shares, which will be given to employees other than top management, will be priced on February 1, Lowell McAdam, chief executive, told CNBC. At their current price of roughly $53, the award would be worth about $2,650 per employee.”

“JPMorgan Chase & Co unveiled a $20 billion investment plan on Tuesday to hike wages, hire more, open new branches and expand its business as it takes advantage of sweeping changes to the U.S. tax law and a more favorable regulatory environment. The bank joined several other U.S. companies that have already announced spending plans after the federal tax overhaul was signed into law in December, bringing lower corporate rates and other changes. In the most explicit use of tax savings announced by any major bank, JPMorgan said it would raise wages for 22,000 employees by an average of 10 percent, to between $15 and $18 per hour, hire 4,000 employees and add up to 400 Chase branches.”

“Whirlpool Corp. said it’s adding 200 jobs after the Trump Administration imposed a tariff of up to 50 percent on large residential washing machines, a penalty aimed at imports from rivals Samsung Electronics Co. and LG Electronics Inc. The new full-time employees will work at a factory in Clyde, Ohio, Whirlpool said on Monday. The American appliance maker also vowed to make broader investments in manufacturing and innovation. Whirlpool, based in Benton Harbor, Michigan, renewed allegations last year that its South Korean rivals illegally undercut prices on washing machines.”